Connect Biopharma Holdings Limited (NASDAQ:CNTB) Short Interest Update

Connect Biopharma Holdings Limited (NASDAQ:CNTB) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 115,500 shares, an increase of 7.5% from the March 15th total of 107,400 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 158,600 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Connect Biopharma

Institutional investors have recently added to or reduced their stakes in the company. Vident Investment Advisory LLC purchased a new stake in Connect Biopharma during the first quarter valued at about $55,000. Renaissance Technologies LLC grew its position in Connect Biopharma by 184.7% during the second quarter. Renaissance Technologies LLC now owns 66,900 shares of the company’s stock valued at $58,000 after acquiring an additional 43,400 shares during the period. JPMorgan Chase & Co. grew its position in Connect Biopharma by 1,312.7% during the first quarter. JPMorgan Chase & Co. now owns 78,547 shares of the company’s stock valued at $79,000 after acquiring an additional 72,987 shares during the period. UBS Group AG lifted its stake in shares of Connect Biopharma by 5,552.1% during the second quarter. UBS Group AG now owns 105,185 shares of the company’s stock worth $91,000 after purchasing an additional 103,324 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Connect Biopharma during the first quarter worth about $132,000. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright started coverage on Connect Biopharma in a report on Monday, March 4th. They issued a “buy” rating and a $7.00 price target for the company.

Connect Biopharma Price Performance

Shares of NASDAQ:CNTB traded down $0.04 during midday trading on Wednesday, reaching $1.69. The company’s stock had a trading volume of 16,601 shares, compared to its average volume of 151,012. Connect Biopharma has a 1 year low of $0.53 and a 1 year high of $2.84. The business has a 50 day moving average price of $1.42 and a 200 day moving average price of $1.26.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, focuses on developing therapies to treat T cell-driven inflammatory diseases. The company is building a pipeline of small molecules and antibodies using functional T cell assays to screen and discover potent product candidates against validated immune targets.